OilVoice - Aberdeen Harbour Reports Healthy Full Year Results

Aberdeen Harbour Reports Healthy Full Year Results

Sunday, May 16, 2010

Aberdeen Harbour has reported a healthy 2009, with the second half of the year exceeding forecast.

Despite a slight drop in activity over the first six months of the year, the port maintained total vessel tonnage of more than 24 million gross tonnes in line with 2008 record figures and cargo throughput remaining above 4.5 million tonnes, compared with 5 million tonnes the previous year. Annual turnover increased from £21.98 million to £22.17million and operating profit also rose from £7.25 million to £7.90 million.

Overall activity in the energy sector was down on previous years, however, substantial cargoes of oil-related equipment left Aberdeen for West Africa and an increase in some general cargo including, salmon feed and grain exports was also reported. The port witnessed significant growth in passenger numbers using the regular ferry link to the Northern Isles with over 141,000 people travelling between Aberdeen, Shetland and Orkney.

Colin Parker, chief executive of Aberdeen Harbour comments: 'Over the last eighteen months we have experienced challenging trading conditions, most notably with a slow down in North Sea oil and gas activity. Despite this we are pleased to report healthy results for 2009, particularly for the second half of the year.

'We continue to build on our regular links with West Africa and other international locations. The increase in passenger numbers between Aberdeen and the Northern Isles highlights the importance of this vital lifeline service.'

As a Trust Port, all profits are reinvested in the development and maintenance of the harbour and the Board has completed a number of projects in 2009 in line with its five-year £65 million strategic development plan, including, the refurbishment of the former Roundhouse and continued work on Point Law peninsula, providing more effective use of existing space and buildings. The infrastructure investment plan will continue throughout 2010 as the £30 million Torry Quay project gets underway, which will provide stronger quays for heavy lifts and create more room in the River Dee for vessels to navigate.

'The new-year has started positively and we are certainly witnessing signs of recovery throughout the various industry sectors using the port,' adds Mr Parker. 'While we will continue to build on the successes of 2009 we are also looking forward as the Torry Quay redevelopment gets underway. This is one of the largest engineering and construction projects seen within Aberdeen Harbour in recent times and we hope that this will consolidate our position as one of the UK's busiest ports. It will also open up opportunities for diversification within the port, particularly in the offshore wind and other renewables sectors.'

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